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20120928
20121006
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, steven engler, global head of a g-10 fx strategy at citi. thanks for joining us again. want to come to some of your u.s. dollar calls. you've been making the point that on the economic data in the u.s. dollar moves have been consistently moving hand in hand of late in the past they used to move in the opposition direction. so do you put this down to the qe-3 factor? >> in part, although it's been in place even when qe-3, or when quantitative easing hasn't been a major driver, a major force in the market. you have to realize that when you take a look at correlations over long periods of time, the dollar is kind of the currency of despair. you buy it when the economy is weak and you pretty much sell everything else. i think qe-3 is kind of making it easy for the euro and the europeans to look good right now because much of the world is terrified about the balance sheet expansion that they expect to occur and the flood of liquidity. so i think that there's a bias in the market. you know, to sell dollars broadly. in that circumstance, you look at reserve managers, you look at investors,
're long on the markets for european stocks. as represented as well in the foot city global 300. up for the highs for the session up 15 points. ftse up around 3% for the quarter. today it is up if you take a look at it up a percent at the moment. ibex currently up 1.3%. bond yields coming down today. so in terms of spain and italy, which is the ones we're focused on, below 6% for spanish 1e7b year, yields lower in italy, as well.year, yields lower in italy, as well. occurrence ci euro dollar has bounced up during the session. dollar-yen 78. aussie dollar was dragged lower by those china pmis. again, just bounced off those lows. sterling slightly weaker on the back of the uk manufacturing pmi numbers that we also have out this morning. so that's where we are in the european session. let's recap the nation trading day. all the details out of sync pore. >> asian markets under pressure today, but volume was light because of the respective holidays. there are ongoing concerns in spain, aussie dollar rebounded a little, but under pressure ahead of tomorrow's rba reading. benchmark ended j
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